The pair is trading within a multi year Falling Wedge with the whole 2019 year being a bearish leg/ Channel Down (RSI = 40.270, MACD = -2.190, Highs/Lows = -1.6579) on its own. The 1W RSI has hit the top of the Falling Wedge and appears to be reversing. We take that as a Short Signal with our Target at 66.375.
Navarro interview with NPR at 07.18 ET: This morning White House Economic Advisor Peter Navarro says the US is willing to postpone Dec 15th tariffs and that is it for Phase One deal... saving other tariffs to make sure we can negotiate Phase 2 and 3 with China. (agree - Risk-off)